Eros Planning to Buy Global Bollywood TV Network

LONDON: Eros International is planning to enter into a definitive agreement to take over B4U Television Network, a global Bollywood service that provides Indian programming across two digital channels.

Eros is planning to acquire the 76 percent of B4U that it does not currently own for a cash and share consideration of $53.1 million. B4U operates B4U Music and B4U Movies. The service is available in more than 100 countries, including India, the U.S., the U.K., Canada, the Middle East and Africa.

B4U Movies is dedicated to Indian films. The programming consists largely of recently released theatrical movies. B4U licenses recently released and older titles from a variety of content providers, including Eros. M4U Music programs music content by working directly with content rights owners, including Eros, and record companies. The programming features classic and new Bollywood hits as well as international music.

Kishore Lulla, the chairman and CEO of Eros International, commented: "We are delighted to announce our anticipated acquisition of the remaining 76 percent of B4U. We expect that B4U’s global network, as well as its film and music content, will complement Eros’ existing product offering."